BUZZ-India's Vodafone Idea extends fall as top court dismisses plea to waive telecom dues
Vodafone Idea's stock fell 8.2% to 6.80 rupees after India's Supreme Court dismissed its plea to waive over $5 billion in telecom dues. The company had sought intervention following the government's rejection of its request. CEO Akshaya Moondra warned that without support, Vodafone may not operate beyond FY26. Analysts rate the stock as 'hold' with a median price target of 7.85 rupees. Year-to-date, Vodafone's stock is down approximately 14%, contrasting with a 15% gain for rival Bharti Airtel.
Updates
** India's Vodafone Idea VODA.NS drops 8.2% to 6.80 rupees; on course to snap three-session gaining streak
** India's Supreme Court dismisses VODA's plea seeking court's help for government rejecting to waive its telecom dues
** VODA dropped 5% in early trade after it asked Supreme Court to intervene "in public interest" after government rejected request to waive over $5 bln dues
** CEO Akshaya Moondra says, "no support will lead to a point of no return" and Vodafone "will not be able to operate beyond FY26"
** Analysts on average rate VODA "hold"; median PT 7.85 rupees, as per LSEG data
** YTD, stock down ~14% vs ~15% gain in rival Bharti Airtel BRTI.NS
